Brown Brothers Harriman has created a corporate actions tool, InfoActionSM, to target institutional asset managers.
"To process corporate action events correctly and timely is hard enough across multiple portfolio managers and multiple securities,” said BBH senior vice president, Timothy Bosco.
“For an institutional asset manager, the additional variable of multiple custodian banks makes it a real problem. Different banks have uneven service levels, disparate data standards, and diverse deadline requirements and communications protocols. Frankly, it can be a nightmare."
InfoAction automates and streamlines two critical corporate actions workflow functions: notifications and responses.
It aims to highlight inconsistencies across disparate data sources; capture securities holdings positions; and submit simultaneous election responses to multiple parties, among other risk reduction, instruction, and reporting features.
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